Owning and operating a liquor store presents both advantages and disadvantages. While liquor store sales revenue is relatively consistent regardless of the economic climate, the business is not considered an eligible industry for financing through many traditional banks or finance companies.
At Platform Funding, we understand that your business is representative of consistent revenue and steady growth and, with your help, we want to provide the working capital that can help that trend continue. Perhaps most importantly, we’ll be able to do this without the extensive time and paperwork required by traditional bank loans.
Liquor Store FAQs
Answer: Liquor store financing refers to a range of financial solutions aimed at supporting the specific needs of businesses in the liquor store industry. From acquiring new inventory to upgrading technology or even expanding to new locations, our financing options help liquor stores thrive and grow. We offer tailor-made solutions like loans for liquor stores, liquor store inventory financing, and much more to meet your particular business needs.
Answer: We offer a wide array of financing options to meet the unique demands of the liquor store industry. Our offerings include:
Leasing: Ideal for acquiring new equipment or machinery without hefty upfront costs.
Loans: Traditional liquor store loans to cover various expenses such as store renovation, inventory purchase, etc.
Lines of Credit: Flexible financing for covering short-term operational costs or seizing opportunities as they arise.
Invoice Factoring: Convert your unpaid invoices into immediate cash to maintain a steady cash flow.
Revenue-Based Financing: Obtain capital based on your business’s revenue, perfect for stores with strong sales but limited collateral.
Answer: Applying for a loan for your liquor store through Platform Funding is a straightforward process. First, complete our online application form, providing all necessary business information and financial statements. Our team will then review your application and reach out to discuss the best liquor store loans or other financing options suitable for your business. Once approved, the funds will be transferred to your account.
Answer: Liquor store inventory financing is a specialized form of funding that allows liquor stores to purchase inventory by using the inventory itself as collateral. This is particularly useful during peak seasons or to take advantage of bulk purchase discounts from suppliers. You pay back the loan as you sell the inventory, making it a flexible and effective financial solution for many liquor stores.
Answer: A line of credit can be an excellent financing option for liquor stores looking for flexible capital. With a line of credit, you can draw funds up to a predetermined limit and only pay interest on the amount you actually use. This makes it ideal for handling unexpected expenses, seasonal fluctuations, or any opportunity requiring quick access to funds.
Answer: Invoice factoring allows you to convert unpaid invoices into immediate cash, providing you with the liquidity you need to run and grow your business. This is particularly beneficial for liquor stores that deal with wholesalers or other businesses that might have longer payment terms, as it enables you to maintain a steady cash flow.
Answer: Revenue-based financing is particularly suitable for liquor stores with strong sales but limited collateral. This financing option allows you to obtain a lump sum upfront, which you’ll repay through a percentage of your daily or weekly sales. It’s an excellent way to secure funds without diluting ownership or putting assets at risk.
Answer: Platform Funding has just 3 minimum requirements to offer a loan for liquor store, including: being in the business for a minimum of 6 months, providing us with 3 recent bank statements and having a monthly revenue of at least $12,500.
Answer: Apply for a liquor store financing option online on our website. One of our business financing experts will talk to you about the options available and help you choose the right one. You will receive the funds for your liquor store in as little as 48 hours.